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Search Results 0 to 49 of about 50 (some duplicates have been removed)
MSNBC
Jan 5, 2013 4:00am PST
boehner told fellow republicans, he plans to use the debt ceiling as leverage for subpoenaing cuts. who has the upper hand when it comes to raising the debt kre ceiling? >> most observers would say the leverage is on republicans' side here. what is interesting about this debt ceiling battle compared to the last one, have you high-ranking members taking positions pretty far away from the mainstream of what their party is saying. have you house minority leader come out at a news conference say the president should bypass congress entirely and invoke the 14th amendment to the constitution and raise the debt ceiling on his own and high-ranking republicans, john cornyn, also stated this week he thinks republicans should be prepared to push it to the point of a potential government shutdown in order to more spending cuts from the other side. one important thing to bear in mind, we have two months to get the deal done, the leeway is much less for them. the senate and the house will only be in session for two days until they come back on february 4th, and that's not a lot of time to sit down an
MSNBC
Jan 5, 2013 11:00am PST
as well saying he'll use the debt ceiling debate to try to cut spending. so it looks like we are gearing up for another big battle, craig. this vacation will not last very long. >> kristen welker with a whole lot of day left in hawaii. i expect you have plans as well. good luck, kristen. >> thanks, craig. >> out with the old and in with the new. we're not just talking about out with the old and in with the new. we're not just talking about the fights on the horizon that will include a few familiar faces and washington post ed o'keefe, good afternoon to you, gentlemen. >> gentlemen. >> ed, the end of 2012, all about the fiscal cliff. right now we're talking about the debt ceiling discussion ahead. how tough of a fight is president obama going to be coming home will to? >> oh, a very tough one because republicans now determined more than ever to get spending cuts as part of the fiscal deal on the fiscal cliff. the president said he's not negotiating over it and the new congress began making it very clear that spending cuts will be what they focus on like a laser in the coming months as neg
CBS
Jan 5, 2013 6:30pm EST
-- no negotiations over raising the debt ceiling. the grand stage at the capitol nearly complete, so, too, the presidential reviewing stand just outside the white house gate. the first family's hawaiian vacation, carved up by fiscal cliff drama ends today. the president used his weekly address to tell the nation raising the debt ceiling to avoid a government default is a problem for congress. >> one thing i will not compromise over is whether or not congress should pay the tab fair bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. >> reporter: top advisers say the president will never again, as he did in 2011, get pulled into that debate. but republicans want a fight, tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small business and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit, new $16.4 trillion, comes up as do mandat
FOX News
Jan 5, 2013 1:00pm PST
's debt ceiling to try and force government spending cuts but even as former budget director say that republicans are more likely to have more leverage. the problem is the president sees it threatening to not paying bills could raise the cost of borrowing money and a genuine u.s. government default could trigger a global recession. >> congress refuses to give the united states the ability to pay its bills on time, consequences could be catastrophic. last time coming threatened this course of action, our entire economy suffered for it. our families and businesses cannot afford that dangerous game again. >> reporter: congressional budget office passed a bill to avoid the fiscal cliff still leaves $900 billion a year in deficits. republicans say by raising taxes on the wealthy they have ended the revenue debate but president says reduces the deficit requires a spending cuts and increased revenue cuts from reforming the tax code. they do agree it does need reforming. >> the irs tax code is too complex, too costly and too unfair. there is something fundamentally wrong when roughly 60%
CNBC
Jan 4, 2013 7:00pm EST
the grass roots but he doesn't have a list of things to cut yet. you have two months until this debt ceiling fight. to actually cut something. >> he is is going to run through the budget process. so really paul ryan is going to be back in the driver's seat. sarah, after the horrible tax argument which republicans mostly lost, maybe not as bad as it could have been, has the republican party had a burning bush experience now regarding spending and debt? >> well, i think -- look, i take a different view on boehner. he had a tough hand, he played it best he could. but now, republicans are in the driver's seat. and on this debt limit, there is no reason for them to not fight until the very last day to get at least a dollar of spending cuts for every dollar of debt ceiling increase. >> that's the boehner rule. >> that's the boehner rule. he has been very consistent that he's going to stand by that rule. >> jimmy williams, the democrats don't want to cut anything. they'll oppose the sequester spending limits and they wouldn't even have a measly cost of living adjustment. so sarah may be right on th
FOX News
Jan 5, 2013 9:00am PST
. the president got tax increases . so now we have leverage when it comes to the debt ceiling and to the cr and sequestitration we can talk about spending cuttings. let president has more money in the general treasury . now we need to focus on spending cuts and that's where the republicans are unified. we have talked about that two and half yearings. >> we have a big debate coming up. we'll keep close watch on it >> thank you. >> thank you very much . now to fox newings alert. authorities are saying that four poom are dead including a gunman after a hostage stand off in aurora, colorado. they received reports of shots fired in a town home. after a stand off lasting hours. the suspect shot at a swat team. officers returned fire and killed the gunman. it looks like the three victims were killed before the officers arrived on the scene. another person was in the townhouse and escaped uninjured. food and drug administration proposes more regulation. they are submitting food safety plants and new safety standard for farmers to guard against produce contamination. harpeds have to be warked and ir
PBS
Jan 4, 2013 4:30pm PST
in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts armade over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about dding new workers. as a result, it is widely predicted that this year will be another period of o
CBS
Jan 4, 2013 7:00pm EST
is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a result, it is widely predicted that this ye
CNN
Jan 5, 2013 3:00pm PST
cuts together with the raising of the debt ceiling. he says he is not going to play that game. will he have any choice? >> look, that is the kind of brinksmanship i'm talking about. we should not negotiate on the full faith and credit of a u.s. government. that is crazy. why would we want to put our economy through that? but there are lots of things we can negotiate on. we do have a sequester, we do have the end of the continuing resolution. we have lots of things coming up that will force us to make some of the tough decisions. >> here is what mitch mcconnell wrote on yahoo! news. i'll read about it, he is going after the president. he is the republican leader in the senate. predictably the president is claiming already that his tax hike on the rich is not enough. i have news for him, the moment that he and every other elected official signed off on the current arrangement, it was the last word on taxes. that debate is over. what he is saying it is now all about spending cuts, no more discussion of taxes for all practical purposes. no more increases in taxes. it is all spending cuts.
CNN
Jan 5, 2013 4:00am PST
the federal deficit, spending cuts, debt ceiling. if the last congress had so many challenges producing a bill to avoid the fiscal cliff do you think this congress will be more productive and if so why? >> you know, i think that remains to be seen. i think that, again, that congressmen need to hear from their constituents and people need to know that, hey, we sent you guys up there to get to work. we mean business. stop all of the partisan bickering. of course, republicans and democrats are always going to have differences on issues. but things of this nature that could cause economic catastrophe, those sorts of things, we should be able to work a lot easier on and that's why i'm up here. i want to work with my republican colleagues. i've reached out to all of my republican colleagues in the north texas area to let them know i want to work with them and i will continue to reach across the aisle, all across the congress working with republicans because i know that it is very important that we do a better job of working together. >> i want to ask you about a comment made by the number two republ
MSNBC
Jan 5, 2013 2:00am PST
isn't going to have a debate with us over the debt ceiling. he also says he's not going to cut spending along with the debt limit hike. and then citing a poll conducted by republican david winston, boehner said, 72% of americans agree any increase in the nation's debt limit must be accompanied by spending cuts and reforms of a greater amount. the debate is already under way. number two, texas senator john cornyn took that fighting spirit even further threatening a partial government shutdown. he said in an op-ed, the coming deadlines will be the next flash points in our ongoing fight to bring fiscal sanity to washington. it may be necessary to partially shut down the government in order to secure the long-term fiscal well-being of our country rather than plod along the path of greece, italy, and spain. president obama needs to take note of this reality and put forward a plan to avoid it immediately. finally, pennsylvania republican senator pat toomey voiced the same sentiment earlier this week on "morning joe." >> our opportunity here is on the debt ceiling. the president has m
FOX Business
Jan 4, 2013 10:00pm EST
and the speaker said that the president said that he n't going to have a debate with us over the debt ceiling. he also sayshat he's not going to cut spending along with a debt limit hik. fiscal cliff behind us on the focus turns to spending. speaker boehner cited a new poll, shwing 72% of americans agree with him. but any increase in the debt lit must be accompanied by an equal amount in spending cuts. senator john cornyn saying that if the president intends the president intends to carry through with his no negotiation threat, but a government shutdown may be the only way to find resolution. the new senate majority leader is saying that it may be necessary to partially shut down the government in order to secure the fiscal well-being of our country. the looming deadline for action has been obvious. and in every instance the white house has purposely blow up the process in a shameless attempt to score cheap political points. "the washington post" reported the top ally in the senate may not be fully on board with his approach his imperious stance, if you will. senator harry reid reportedly warned
CNN
Jan 5, 2013 3:00am PST
, the same old same old. with multiple budget crises ahead like the debt ceiling and automatic spending cuts, the continuing budget resolution, the people who watch capitol hill say the partisanship and brinkmanship will be as bitter as ever. cnn's national political correspondent jim acosta explains why. >> reporter: after surviving a failed coup led by his own members beleaguered house speaker john boehner wants to take the same fractured party into battle. in a closed door meeting with house republicans a source in the room tells cnn boehner said he will demand budget cuts larger than any increase in the nation's debt limit. with the fiscal cliff behind us boehner told his members the focus turns to spending. that puts republicans in congress back on the collision course with the white house after the president insisted earlier this week he will not negotiate over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> reporter: if the president won't come to t
MSNBC
Jan 5, 2013 9:00am PST
republicans he'll use the debt ceiling as leverage for spending cuts. who do you see as having the upper hand when it comes to raising the debt ceiling? >> you know, alex, this reminds me a lot of the government shutdown, the confrontation we had between president clinton and newt gingrich back in 1995 where they were at really loggerheads over spending issues and the government you may remember shut down for a total of 28 days, people forget how long that confrontation went on. what do we see what happened that time, advantaged the president. republicans really took it on the chin. the president had the bully pulpit, we see the president, president obama, already trying to make his case in the clip that you showed from his saturday radio address. he's trying to say these are debts we've already incurred and catastrophic consequences if we don't -- we don't -- we aren't seen as a nation that will pay its debts. so, we see that positioning coming out already. i think it's a lot like the fiscal cliff debate where the president has some natural advantages. >> all right, let's talk about republic
CNN
Jan 5, 2013 10:00am PST
ceiling. the convention of the last two or three decades has been to use the debt ceiling as a tool to get serious about cutting spending. >> mohammed el ari is the ceo of pimco, one of the largest investors in bonlds. president obama appointed him to chair the global development council. congratulations on that. businesses and markets want certainty in the economy in order to invest and hopefully promote growth. we've averted the fiscal cliff barely but have three more potential cliffs awaiting. america's economy has been slowly picking up steam. could washington damage america's economic prospectings with the way these things are being done? >> yes, it could damage and has been damaging because we've been growing below potential. as you point out and as stephen said and i agree, we have yet another drama coming up in the next few weeks because we have to deal with the three issues -- debt ceiling, sequester, and continuing resolution. if someone wants to pleau a whistle and say time-out, everybody, let's step back and see what we're doing, all of us would conclude, democrats and republic
MSNBC
Jan 5, 2013 3:00am PST
the debt ceiling as leverage for more spending cuts. insiders on capitol hill have been told to prepare for chuck hag hagel's nomination for defense secretary. at the same time, a white house spokesperson says the president has not made a final decision yet. congress passed a hurricane sandy relief bill that provides 9.7 billion to the national flood insurance program, nearly out of money, republican leadership took heat from both parties. the house is set to vote on additional sandy aid. worth nearly $52 billion on january 15th. the senate is recessed until the 21st. >>> president obama and the fi
MSNBC
Jan 4, 2013 5:00pm PST
to the right they must have lurched. and i just think they're worried, because if they pull up the debt ceiling as -- and they try to hold the president and the democrats hostage over the debt ceiling, the contrast is going to be well, what are you going to cut? are you going to put these deep cuts in the medicare? are you going to put them in medicaid and nursing homes and these kind of things? so if they bring it up, they're really playing with fire not only for the financial side of things, but if you're holding hostage, what do you want them to cut? >> well, from your perspective on the democratic side, the progressive side, there is an opportunity here for the republicans to confuse a lot of people. debt ceiling, government shutdown, you know, a lot of misinformation out there, who to believe, and, you know, a lot of average americans really aren't schooled up on exactly what all of this means. that's why i think that gingrich may have done the country a favor right there by cutting right to the chase on what it would really mean. but what do the democrats have to do in this campaign? >> i
MSNBC
Jan 5, 2013 5:00am PST
to have much more leverage here because they're once again threatening not to raise the debt ceiling unless they get spending cuts. i guess my question to you congressman nadlor. you have a proposal, it's not yours, this emanated from a commenter on a blog. but it, i think, pretty sound, actually. explain your proposal, the proposal that's out there that you are now advocating. >> you put it in context first. >> yes. >> the republicans have suddenly invented this notion that we bargained about raising the debt ceiling, to reduce spending in order to get their votes for increasing the debt ceiling. the president said he won't negotiate on that, an he's quite right. what they're really saying is by not raising the debt ceiling, we're not going to pay the bills that we voted to incur. we're going to permit the country to default and cause economic chaos. and destroy the country. they're basically saying we're going to blackmail everybody in the country. absolutely illegitimate. it's like an old gangster movie where someone says, nice economy you got there, it's going to blow up if you d
MSNBC
Jan 4, 2013 4:00pm PST
't lift the debt ceiling, the economy shuts down. not only the u.s. economy, maybe the world economy. the consequences are drastic. look, the bottom line on this, michael, and you know this, nobody should be threatening or rattling sabers. everyone. president obama, harry reid, everyone knows we need significant spending cuts. it's about time we act maturely and get together and try to find out what the spending cuts that we have to make can be made in the least onerous way for the american people. we also need to raise more revenue. the fiscal cliff only raised $600 billion of revenue. we need to raise another $600 billion in revenue and we've got to find a way to do that, as well. >> i constantly, in my role as a talk radio host, hear the spending is out of control. and if this is spun as republicans standing up to all of that spending and saying enough is enough, i think the win could be at the gop's back. >> well, i don't know that the wind is at our back. first of all, governor, nice to see you again. i would tell you that spending is the problem, but where we missed the boat is
KRON
Jan 4, 2013 11:00pm PST
. but there are still plenty of financial problems for lawmakers to tackle. next up - the debate over the debt ceiling. republicans say they don't even want to talk about it, until president obama is ready to start talking about spending cuts. but as brian todd reports, the president could get the money he needs to keep the government running, without any help from capitol hill. >> the president says that he will not to negotiate with congress over lifting the debt ceiling. >> will not play that game. >> the president might not want to have this debate but he is going to have because this is what the country needs it. >> is there a magic bullet to solve the crisis? " what a magic going. some legal scholars are suggesting a one trillion dollar platinum coin you could be minted. if they could use that to pave the debt. to pay the debt-- and it sounds silly but it is absolutely illegal. >> why do think that it is a a? >> i think that it is better than a government shutdown or the bad alternatives. >> technically it appears to be legal. the u.s. government print money but how much paper can be in circulat
CNN
Jan 5, 2013 6:30am PST
with a plan to deal with the debt ceiling and the budget resolution -- yeah. all of this and the fighting holding back america's growth. i'll tell you how to fix it right after this. >>> okay. so the american economy is adding jobs, but not really as robustly as you would want. take a look. you've got an economy that sells 14.4% underemployment rate and 39% of the people who have been out of work are long-term unemployed. that's still a problem. over the last year, the economy adding on average 153,000 jobs each month, well below the 200,000 to 250,000 you really want for a real and durable recovery. want to know why job growth remains so sluggish? look no further than washington, d.c. i want to bring back zanny bedoes, bob herbert. that uncertainty from planning businesses and the hiring. is this the new normal? >> i think it is. i hate to say t i wee have to get used to the fact that wz is in this environment where it will keep kicking the can down the road. it's becoming like europe. i hate to say that. but it's not going to go away. the next two months will be more uncertainty. i susp
WETA
Jan 4, 2013 8:30pm EST
with the debt ceiling is this is again playing roulette. what they have to do is they have to have a caucus united on a simple demand. whatever it is, $1 in spending cuts for every $1 in debt increases, a balanced budget amendment, but something. they also made a tactical throw back. if they do not, they will get rolled. >> charles' advice is thoughtful, but when asked if they would accept $10 for $1, everyone said it was unacceptable. we are in a position where we'd like to take tough positions but we do not like to make tough calls. >> i think we will see something inherently different. i think the president is serious when he says he will not negotiate over the debt ceiling. he should not. this is something that is artificial. >> will the new congress make a difference? more women, more latinos, gays and lesbians. or african-americans, asians. will the makeup of congress make a difference? >> if anything, congress is more polarized because of redistricting. this is part of the problem. >> you do not see a ted cruz of texas and elizabeth warren coming to terms over legislation? >> i doubt
CNN
Jan 5, 2013 7:00am PST
the federal deficit, spending cuts, the debt ceiling. it's the last -- if the last congress had so many challenges producing a bill to avoid the fiscal cliff, do you think this congress will be more productive, and if so, why? >> you know, i think that remines to be seen. i think that, again, that congressmen need to hear from their constituents and people need to know that hey, we sent you guys up there to get to work. we mean business. stop all -- all of the partisan bickering. of course, republicans and democrats are always going to have differences on issues, but things of this nature that could cause economic catastrophe, those sorts of things, we should be able to work a lot easier on. and that's why i'm up here. i want to work with my republican colleagues. i've reached out to all of my republican colleagues in the north texas area to let them know that i want to work with them, and i will continue to reach across the aisle, all across the congress with -- working with republicans because i know that it is very important that we do a better job of workiwork ing -- of working toge
CW
Jan 4, 2013 9:00pm CST
two months before they raised the debt ceiling on risk. the president says the debt limit needs to rise. republicans say the president isn't willing to cut spending he will get a debate whether he likes it or not. some are proposing using one trillion dollars to pay this year's budget deficit. those against the coin idea... mike quickly snagged an influential assignment in the new congress. he will be the only member from illinois to serve on that panel. in an attempt to reach a compromise on pension reform in illinois willing to back off a proposal that will shift pension costs for suburban in downstate teachers. quinn says that he hopes madigan ships on who pays the pension costs will lead to a breakthrough on a pension reform. quentin and legislative leaders are scheduled to meet tomorrow afternoon to discuss pension reform it's believed it's sometimes easier to pass it difficult legislation in this waiting days of the session. the head of chicago immunizations will talk to us on how it looks so far. a pilot arrested moments before his plane was supposed to take off what poli
CNN
Jan 4, 2013 8:00pm PST
the debt ceiling and hold people hostage because you know you have to increase that, he says that is, quote/unquote, a dead loser. here he is. >> in the end, you know it's going to happen. the whole national financial system is going to come into washington by television and say, oh, my god, this would be a gigantic heart attack, the entire economy of the world will collapse, you guys can't be responsible, and they'll cave. >> so are republicans making a strategic mistake here, doug, to even use the debt ceiling as leverage since we all know they will end up having to raise it? >> they will have to raise it. the president's going to have to raise it, and the debt ceiling is not the problem. the problem is the debt and the spending that's driving the debt. and so the number one thing is to avoid, "a," the notion that speaker boehner can trot down to the white house and somehow we can solve the nation's problems or, "b," that we want do this at the 11th hour at all. instead we want our congress and our president to do their job. and i for one believe that in moments like this, presidential le
CNN
Jan 5, 2013 5:00am PST
. first, the debt ceiling. that is still out there. we still have to deal with the debt ceiling probably late february, early march. negotiations will start over the debt ceiling almost instantly. but wait, there's more. what about the sequester, those budget cuts? they did a two-month delay. starting march 1st you'll have the same budget cuts and spending cuts you'll have to deal with. wait, there's more. you want more? here is the fourth quarter, funding for the federal government which runs out march 27th. there you go. another fight between democrats and republicans. >> i was hoping we could stop using the word cliff. it seemed like every seventh word out of my mouth was cliff. what else is in the spotlight? >> a couple of big things on the president's to-do list, i guess you could say, besides these budget issues. first up, gun control. after the tragedy in newtown, connecticut, shootings at the elementary school in sandy hook up there, there's now a new push by the president on gun control. the congress is leading a task force, expected to come out with recommendations on what to d
CNN
Jan 5, 2013 2:00pm PST
:00 tonight. as you pointed out, the next fiscal matter will be debt ceiling republicans for some time now, and have been promising a fight, saying they want those spending cuts in exchange for raising the at the time ceiling. but the president for a number of days now, and certainly in the most recent time here, his weekly address, has said that he is not willing to compromise on this. and will not negotiate. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they have already racked up. if congress is to give the united states to pay its bills on time, consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> reporter: in addition to that, the president has also promised he wants to tackle immigration reform and gun violence in the wake of the shootings in connecticut. so a lot on the president's plate as he heads back to washington. >> and also think, the cabinet, secreta
CNN
Jan 5, 2013 9:00am PST
face big questions on spending and another so-called crisis moment with the next debt ceiling vote. let's start with the debt ceiling. president says he's not going to negotiate. so how far will house republicans push on this vote to try to leverage spending cuts? >> i think they're going push pretty far. you know, as the conservative "wall street journal" editorialized yesterday, "the wall street journal" giving house with republicans some advice, they said don't take a hostage you aren't prepared to shoot. and i think that that's the view among a lot of republicans in the house that they're not going to take this hostage, the debt ceiling, unless they're prepared to hit it. and remember last time we went through this, there were quite a few republicans who actually argued that it would be okay to hit the debt ceiling, that it wouldn't be as catastrophic as the white house and the treasury department and most economists believe. so i think it's -- i think it's very real, and when you have a senator like john cornyn threatening to shut the government down, we're in for a pretty serious
CNN
Jan 5, 2013 11:00am PST
thought the fiscal cliff was nasty, just wait till you see how congress handles spending cuts and the debt ceiling. we'll talk to a republican congressman who actually supported the fiscal cliff deal and find out how he thinks the other deals are going to get done. >>> when it's okay to alter the historical accuracy of an official photograph. apparently when it's very cold outside. passengers on board a flight from iceland to new york find a unique way to stop an unruly passenger. we'll tell you what they did in a moment. the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their buddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. is a fantastic experience. 30 shrimp for $11.99. i can't imagine anything better. you're getting a ton of shrimp, and it tastes really good! [ male announcer
ABC
Jan 5, 2013 8:00am PST
deficit as he prepares to battle with congress over the national debt ceiling but he wants congress to raise the debt limit. lawmakers threatened inaction on that and credited rating was downgraded. >> as i said earlier this week, one thing i won't compromise is congress should pay for a tab they already racked up. if congress refuses to give the ability to pay bills on time, global economy could be catastrophic. last time they threatened this action our entire economy suffered for it. >> katie: the republican response by michigan congressman dave kemp, it's i'm to identify responsible ways to tackle wasteful spending. >>> white house officials say president obama is expected to nominate chuck hagel of nebraska to be defense secretary. >> the scandal over hidden cash has taken a new turn with release of a scathing report. it turns out the money was hidden for more than 12 years. capitol core dental nannette miranda explains. >> 70 state parks were scheduled to shut down last summer because of budget shortfalls but just as the closures were about to happen a surplus of $54 million wa
MSNBC
Jan 5, 2013 12:00pm PST
republicans that he will not negotiate over the debt ceiling deal, but several gop senators warn they could shut government down to get what they want and that of course is spending cuts. this is what i was told efarlie today. >> the extreme right wing wants to shut down the government because they do not like the government at all. they would have no government unanimous this government. the tea party represents a good 100 votes on the other side. >> for more on all of this, i want to bring in nbc white house correspondent, kristin welker, what is the president looking at when he heads back east? >> reporter: well, a lot of budget battles, despite that the fight over the fiscal cliff was resolve happen. they will face three big budget battles coming up on the horizon and analysts say that could sideline part of his second determine agenda which he will map out once he leaves hawaii. president obama soaking up on the final hours of vacation before he and congress engage in their next fiscal fight. at the top of the list, the debt ceiling, which is like the nation's credit card and it's abou
CBS
Jan 5, 2013 8:00am EST
's basically that they punted it now. now we have a fight over the debt ceiling which the country will hit in about a month when the government runs out of the borrowing authority and all the issues are on the table. how much revenue should we bring in should we cut spending and the fate of the economy is sort oftown on the brink. both sides are saying i'm not going to budge and they're playing game of chicken with it. so i think that in the short term is really the fundamental issue we'll be hearing about day after day. >> michael crowley, thanks very much. >> thanks for having me. >>> as you've been hearing the fierce budget battle in washington did not hinder job growth. the labor department reported on friday that employers added 155,000 jobs last month, and that was slightly more than what analysts expected and a bit less than the november numbers. but even though congress spared the country a deep fall off the fiscal cliff this week there are three other ledges on the horizon we've just been discussing with a lot at stake. joining us is an anchor for bloomberg
FOX Business
Jan 4, 2013 8:00pm EST
to be that we're going to have to raise the debt ceiling. it's going to cost us more money. we're going to go into debt more , and that's going to cause a ripple effect internationally in globally. decrease our debt rating, maybe double-a-2 and a. neil: side of the keys as will blink. the last downgrade the world went merrily on. what will it take? >> that such a good point. not only go merrily on, but the dollar actually got stronger after the downgrade because it created a lot of uncertainty. you know what, there's a point at which everything changes. all of a sudden people realized, these guys really cannot get their act together. neil: a handle on your head. >> i know that. sometimes it takes that. you know, my guess is you're going to get a downgrade. i don't see how these guys get together. neil: my guess is it has no effect. >> i bet you a nickel it does have an effect. the dollar, this one doesn't have an effect, the next one, and i think this country needs a crisis. i think the crisis will be the dollar becomes trash and inflation heads up in a dramatic way. and that will get everyon
ABC
Jan 5, 2013 6:00am PST
prepares to battle with congress over the national debt ceiling. but he repeated his insistence that congress must raise the debt limit to pay for the debt they already created. when lawmakers threatened inaction on that last year, the nation's credit rating was downgraded. >> as i said earlier this week, one thing i i will not compromise over is whether or not congress should pay for the bill they have already racked up. if congress refuses to give the united states the ability to pay their bills on time the consequences for the entire global economy could be catastrophic. last time they threatened this action our entire economy suffered for t our families and our businesses can't afford that dangerous game again. >>> the republican response by michigan congressman dave camp said it's time to identify responsible ways to tackle washington's wasteful spending. he says america's credit cards are maxed out and there's no money in the bank account so the spending must stop. >>> and president obama is expected to nominate former republican senator chuck hagle of nebraska to be defen
CSPAN
Jan 4, 2013 8:00pm EST
to send a message that we will not raise the debt limit without spending cuts. guest: i don't want a shutdown, but we have to have real savings and reforms before it can have a debt ceiling debate. host: and the debate over the filibuster rule is something the senate will be taking up, harry reid setting perform needs to take place. some freshmen members, seven of the nine freshmen democrats say they support changes to the filibuster rule. guest: i think there will be some changes to the filibuster rule. we have been working on it. the majority leader in the senate and the minority leader are negotiating already the changes right now. i think it has to be done in a way where you continue to have a filibuster, but you have some changes that would ensure minority rights are represented in the senate, so you have the kind of policy coming out of the congress that has broad based bipartisan support throughout public. we are talking about addressing these big challenges. we're talking outperforms to entitlement programs. when we talk about tax reform, when we talk about finding real sav
FOX
Jan 4, 2013 11:30pm EST
. the president's... . the presiient says he onnt negotiate ith congress over liftiig the debt-ceiling. "i will not play that gamm!" republicans say: "the presideet maa not want to have phis debatee but it's the one he's gonna have - becauue the coontry needs it." so while they debate over a debate- ann &pbuulet to solvv the crrsis? 3 try a magic coin. some economists, legal scholars and now even a congressman are suggessing a 1-trillionndollar and he gooernment could use default and pre-empt the debt ceeling crisis. democratiic congressman jerrold adlerrof new york ays "i'm being absolutely serious... it absolutely legal." i spoke to you think it's a good idea do right now." "well i thiik it's better than aagovernmenn shut- down. it's better than ddfaulting on the debt. i mean &pit'' better than the bad alternaaives." ann technically it appeaas to be legal. here's how. "the uss money... but under law there's aalimii toohow much paper money can circulate at any onee that limit at least whaatee dennminations gold, silver and copper coins can be. bbt there ii no limit on platinum &pcoi
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